Electric Vehicles
The Green Energy Tax Incentives of the Inflation Reduction Act of 2022
By Jeffrey G. Davis on
Posted in Carbon Capture Credit, Electric Vehicles, Energy Policy, ITC, PTC, Solar, Tax Policy, Wind
Here is Mayer Brown’s Legal Update regarding some of the noteworthy proposals in the Inflation Reduction Act of 2022 that related to green energy.
US DOT Allocates $615 Million for EV Charging Station Networks
By George K. Haines on
Posted in Electric Vehicles, Infrastructure
Read about new guidance from the US Department of Transportation on the allocation of $615 million in funds for electric vehicle infrastructure under the National Electric Vehicle Infrastructure Formula Program in this Legal Update authored by Chadron Edwards, Morenikeji Akinade, George Haines, Samantha Leavitt, Nick Vallorano and Alec Weingart.
Illinois Enacts Tax Incentives to Attract Electric Vehicle Manufacturing
By Jeffrey G. Davis on
Posted in Electric Vehicles, State Tax
In November 2021, Illinois Governor JB Pritzker signed the Reimagining Electric Vehicles Act, which establishes the Reimagining Electric Vehicles in Illinois Program to incentivize the production of electric vehicles in the state. This Mayer Brown Legal Update discusses the criteria to qualify for the program and the related tax credits, exemptions and deductions.
Illinois Enacts Comprehensive Climate and Clean Energy Legislation
By George K. Haines on
Read about Illinois’ substantial new climate and energy legislative package in this Legal Update authored by my Mayer Brown colleagues, Nadav Klugman, Joe Seliga and Casey Williams.
US House Ways and Means Committee Proposes Substantial Green Energy Support
On the night of September 10, 2021, the House Ways and Means Committee released legislative text covering a range of green energy tax incentives, a bill that it hopes will be enacted through the budget reconciliation process and it expects to begin markup of on Tuesday, September 14. This Legal Update provides further detail on …
US Infrastructure Investment and Jobs Act of 2021 – Assessing the Potential Impact on Electric Vehicles and Electric Vehicle Infrastructure
By Jeffrey G. Davis on
On August 10, 2021, the US Senate voted to pass the Infrastructure Investment and Jobs Act (the “IIJA”). The IIJA would provide a total of $1.2 trillion in federal investment in infrastructure, including an unprecedented level of federal investment in electric vehicles and electric vehicle charging infrastructure through the creation of new programs and grants …
Electric Vehicle and Charging Station Tax Credits: Assessing Proposed Changes
By Jeffrey G. Davis on
Posted in Electric Vehicles, Tax Reform (Federal)
Section 30D of the US Internal Revenue Code (“IRC”) provides business and individual taxpayers that purchase new qualified plug-in electric drive motor vehicles (“EVs”), including passenger vehicles and light trucks, with a nonrefundable tax credit. Section 30C of the IRC provides a nonrefundable investment tax credit equal to 30 percent of the cost of alternative fuel vehicle refueling property, which includes EV charging stations and hydrogen refueling stations. There are currently three primary proposals under discussion in Washington that could materially change these federal income tax credits. This Legal Update compares key aspects of these proposals. The three proposals are the Biden Administration FY 2022 Budget, the GREEN Act and the Clean Energy for America Act.…
Continue Reading Electric Vehicle and Charging Station Tax Credits: Assessing Proposed Changes
Biden Administration Budget: Energy Tax Proposals
By Jeffrey G. Davis on
Read about the Energy Tax Proposals in the Biden Administration’s 2022 Budget in this Legal Update: Energy Tax Implications of the Administration’s FY2022 Budget Tax Proposals | Perspectives & Events | Mayer Brown.
Energy Tax Implications of New Infrastructure and Tax Plans
By Jeffrey G. Davis on
Posted in Carbon Capture Credit, Electric Vehicles, Energy Policy, ESG: Environmental, Infrastructure, ITC, PTC, Solar, Wind
On March 31, 2021, the Biden administration released the American Jobs Plan (the “Infrastructure Plan”), which is a proposal that, if ultimately enacted, aims to modernize outdated infrastructure, create additional jobs and increase the United States’ global competitiveness. Alongside the Infrastructure Plan, the Biden administration released a Made in America Tax Plan (the “Tax Plan”),…